What is the name of your state? CA
Got a letter from my employer stating that due to a systems mistake, a portion of my bonus from 2015 paid in 2016! should have been deferred into a deferred comp plan that I participate in was instead paid out in cash. The form states an amount ($2,875) and a date (2/11/16) when the payment should have been deferred but instead was paid in cash (and presumably included in W2 wages for 2016). The letter is vague about what to do but states that: "you are entitled to the relief provided in section V of Notice 2008-113 with respect to a failure by the company to comply with section 409A. You must attach a copy of this statement with your tax return". Any idea what to do with this?
Thanks in advance.
Got a letter from my employer stating that due to a systems mistake, a portion of my bonus from 2015 paid in 2016! should have been deferred into a deferred comp plan that I participate in was instead paid out in cash. The form states an amount ($2,875) and a date (2/11/16) when the payment should have been deferred but instead was paid in cash (and presumably included in W2 wages for 2016). The letter is vague about what to do but states that: "you are entitled to the relief provided in section V of Notice 2008-113 with respect to a failure by the company to comply with section 409A. You must attach a copy of this statement with your tax return". Any idea what to do with this?
Thanks in advance.